The Real Scandal Is Global Crossing - Not Enron

March 10, 2002

Why has the press ignored one of the largest bankruptcies in history,
one which eclipsed the Enron debacle in many ways? Could it be because
the head of the Democratic National Committee made $18 million from the
Global Crossing scandal, selling all his stock just before the company
collapsed?

While Enron has become a household name, Global Crossing is unknown to
most Americans. Hardly a news report is aired without a mention of Enron.
Seven Congressional committees are investigating that failed company.
Yet Global Crossing is hardly mentioned by the media elite, and Congress
seems to have no interest in investigating the causes of this much more
significant bankruptcy. I wonder why?

Mention the following facts to almost any American, and see what reaction
you get. My guess is a blank stare. Most Americans only talk about (and
think about) what the liberal media tells them is important. Global Crossing’s
bankruptcy was the fourth largest in America’s history. Far more employees’
lives were ruined by the collapse of Global Crossing than were employed
by Enron. No one (except the employees and retirees whose finances were
devastated) seems to care. Why?

Terry McAuliffe, Bill Clinton’s hand-picked Chairman of the Democratic
National Committee, invested $100,000 in Global Crossing stock. He sold
it less than two years later, just before the company’s collapse for $18
million - an 18,000% profit! Surely this was an innocent coincidence.
But it does remind one of Hillary Clinton’s remarkable performance in
the cattle futures market, a very risky area of investing in which even
seasoned professionals lose millions. McAuliffe may face criminal insider
trading charges stemming from the astonishing profits he made. Yet "investigative
journalists" are staying away from this story in droves. Why?

Global Crossing gave far more money to the Democratic Party than Enron
gave to both political parties combined. The failure of Global Crossing’s
federally insured Savings and Loan (which also contributed heavily to
the Democrats) will cost U.S. taxpayers billions. NewsMax.com reports
that Enron "had a cozy relationship with McAuliffe, ex-President
Bill Clinton and other Democrats." Yet neither the press nor Congress
are interested in Global Crossing. Why?

The media bosses are frantically sending reporters all over the world
to investigate the slightest hint about any campaign donations George
Bush might have received from Enron. They’ve made much of the fact that
Enron officials appealed to the White House for help in their last days,
while almost totally ignoring the fact that the Administration turned
them down. But no one is asking McAuliffe and the Clintons how much Enron’s
huge contributions influenced the decision of the Clinton Administration
to underwrite the financing of a now defaulted loan granted to the government
of India for a nuclear reactor power plant. Why?

Liberal TV and newspaper groups have tried desperately to tie top Republicans
to the Enron scandal. Nothing of substance has emerged from the millions
they have spent in this effort. Yet it is well-known that Terry McAuliffe
did "political work" for Global Crossing founder Gary Winnick.
After his receiving his windfall profits, McAuliffe set up a golf outing
for Winnick and then-president Clinton. Winnick later donated $1 million
to the Clinton Presidential Library, which is actually a Clinton slush
fund to be used however he wishes. When we consider McAuliffe’s documented
role in selling government favors for campaign contributions during the
Clinton years, we have to wonder just what Global Crossing got for the
$1 million they gave to Clinton. Perhaps the donation helped Clinton make
his decision to give the company a $400 million Pentagon contract. No
one is asking these questions. Why?

I think it is obvious why the media has all but ignored Global Crossing,
while treating the American public to a blitz of coverage about Enron
the likes of which have not seen since the O.J. Simpson trials. The mass
media is incapable of objective reporting. They have become the Public
Relations arm of the liberals, the Democrats, and the Socialist Party.
Over 92% of the reporters, editors and producers in the mainstream media
are registered to vote either Democrat or Socialist.

So we should not be surprised when these "unbiased" newspeople
scream for blood at the slightest hint that the President or other Republicans
might have been close to Enron officials. And we should not be surprised
when they ignore a much bigger story, one with facts instead of innuendo,
because "their" people are involved. Liberals shriek in outrage
at any attempt by the corporations which own the news outlets to influence
the news. Yet they are willing to roll over and play dead, like any good
lap dog, when their liberal masters are in trouble.

Tom Barrett has been an
ordained minister for 28 years. He has written for local and national
publications for most of his life, and has authored several non-fiction
books. He has been interviewed on many TV and radio programs, and
speaks at seminars nationwide. Tom is the editor and publisher of
Conservative Truth, an email newsletter read by tens of thousands
weekly which focuses on moral and political issues from a Biblical
viewpoint.